Singapore allocates S$220m over three years to boost fintech innovation under FSTI 4.0

The Monetary Authority of Singapore today announced a S$220 million (RM696 million) commitment over three years to strengthen Singapore’s financial technology ecosystem. ― AFP pic

First Published: Monday, 31 Aug 2026 7:27 PM MYT

SINGAPORE, Aug 31 — The Monetary Authority of Singapore (MAS) today announced a S$220 million (RM696 million) commitment over three years to strengthen Singapore’s financial technology (fintech) ecosystem.

MAS said the allocation under the renewed Financial Sector Technology and Innovation Scheme (FSTI 4.0) aimed to accelerate innovation and technology adoption across the financial sector.

“FSTI 4.0 builds on a strong foundation of Singapore’s fintech sector, which is now home to more than 1,800 fintech firms employing close to 10,000 professionals across technology, data, artificial intelligence (AI), compliance, cybersecurity and business roles.

“Fintech investments in Singapore hit S$2.9 billion in 2025,” it said in a statement.

According to MAS, FSTI 4.0 will be implemented through six tracks spanning institutional innovation, AI adoption, infrastructure and platforms, and talent development.

“FSTI 4.0 will support fintech firms at every stage of growth, from developing new solutions to scaling regionally and globally.

“Through investments in infrastructure, frontier technologies and local talent, the scheme will strengthen Singapore’s position as a vibrant and competitive fintech hub,” it added. — Bernama